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Strategies & Market Trends : Dividend investing for retirement
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From: Steve Felix7/5/2017 10:13:03 PM
   of 34328
 
UTG - just a fwiw for those not familiar, you have to put cash up when you exercise your rights.
I suppose on margin, it wouldn't matter, but no experience with that.

Looking back, in 2015, their initial announcement was on 10/6. Their effective announcement and filing was on 11/9. Offering closed on 12/11.

Week of 12/7 the price was down $2.20 close to close from the week before.

Copied right off my statement, it looks a little convoluted, but it is two separate fees
because I oversubscribed.

12/08/2015 11:10:43 VOLUNTARY - RIGHTS SUBSCRIPTION FEE (7AB997998) -952.35
12/08/2015 11:10:42 VOLUNTARY - RIGHTS SUBSCRIPTION (7AB997014) 0.00
12/08/2015 11:10:42 VOLUNTARY - RIGHTS SUBSCRIPTION (UTG.R) 0.00
12/08/2015 11:10:41 VOLUNTARY - RIGHTS SUBSCRIPTION FEE (UTG.R) -925.14
12/08/2015 11:10:40 VOLUNTARY - RIGHTS OVERSUBSCRIPTION (7AB997998) 0.00

These 12/17 entries say fees, but they were actually money returned that went back into my money market.

12/17/2015 15:22:21 VOLUNTARY - RIGHTS SUBSCRIPTION FEE (756158127) 109.48
12/17/2015 15:22:14 VOLUNTARY - RIGHTS SUBSCRIPTION FEE (7AB997998) 112.70

The reason was the cost estimate was too high:

"Due to the estimated subscription price of $28.32 being greater than the actual subscription price of $23.99, the Fund’s subscription agent, Computershare Trust Company, N.A. and Computershare Inc., will begin refunding all excess subscription proceeds in the next 3 to 5 business days."
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